The Hydrocarbon Unit of the Energy and Mineral Resources Division has signed a memorandum of understanding (MOU) with Bangladesh University of Engineering and Technology (BUET) to enhance research and capacity building in the country’s energy sector. The two organisations signed the deal at a function at BUET on Monday where State Minister for Power, Energy and Mineral Resources Division Nasrul Hamid was present as chief guest. Welcoming the agreement, the state minister said that this will help the Hydrocarbon Unit to prepare accurate data and a proper plan for the energy sector. The MoU will also expand the field of research in the energy sector, he said. Read more: Hydrocarbon Unit signs MoU with BUET to enhance research in energy sector “Coordinated initiatives are necessary to ensure a sustainable energy system,” Hamid added. He underscored the need for a coordinated network of researchers, academics and professionals to make a plan successful. Success will certainly be achieved if the planning and activities are carried out by estimating the needs of the future, he added. With BUET Vice-Chancellor Professor Satya Prasad Majumdar in the chair, the event was also addressed, among others, by Energy Secretary Dr Md Khairuzzaman Majumder, BUET Vice-Chancellor Professor Abdul Jabbar Khan, Energy and Sustainability Research Institute Director Professor Farsim Mannan Mohammadi and Director General of Hydrocarbon Unit Tahmina Yasmin. Read more: Plan to float int’l bidding for offshore hydrocarbon exploration dropped before election

A formula-based pricing policy needs to be put in place to attract international oil companies (IOCs) to explore hydrocarbon in Bangladesh, energy experts said on Saturday. "Unless there is a formula to fix energy prices, the IOCs will not be interested to come here," said Khondokar Abdus Saleque, a former senior official of Petrobangla. Read Experts upset at govt's growing dependence on gas import Saleque, who was speaking at the seminar "Post-Covid Hydrocarbon Exploration Challenges for Bangladesh," said presently Bangladesh is following a fixed price policy for energy prices; the country is offering $6-plus per unit of gas to the IOCs while it is importing it at over $11. "In such a situation, the IOCs will not be interested to invest here. Rather, they will be up for it if there is a certain formula for setting the price in line with the global market price," he added. Read BAPEX discovers 4-layer gas in new part of Haripur Speaking at the webinar organised by Energy and Power magazine, former Petrobangla chairman Muktadir Ali said Bangladesh failed to make any breakthrough in onshore and offshore hydrocarbon exploration, only because of the gas price offered to IOCs.  "The country will face the real challenge from 2024-25 when its gas production will begin to slow down and fall below 2,000 MMCFD," he said. "Also, we should not depend too much on liquefied natural gas (LNG) import for meeting our energy demand." Read Cabinet purchase body nods LNG import Dhaka University geology department Professor Dr Badrul Imam said the government is now engaging foreign companies in the potential gas fields which were discovered by Bapex.  Petroleum geologist M Faridduddin said, "Petrobangla and Bapex could not take the right decision as they need to get approval from the concerned ministry and higher authority to explore hydrocarbons." Read Two recently-relinquished offshore gas blocks remain unexploited Former Bapex managing director Mortuza Ahmad Faruque said the Probangla executive board is now dominated by officials from the concerned ministry who do not have the technical know-how.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has directed the Department of Explosives (DE) to make it more public friendly by working with stakeholders.